After being millions of dollars in depth MLG is now going out of business and selling the majority of its assets to Activision Blizzard

Perhaps this is due to me not really paying a lot of attention to esports the past year but the announcement that MLG has been losing money for a while now is a bit of a shock.

According to an article by Esportsobserver MLG's board of directors approved the sale of a large majority of MLG's assets to Activision Blizzard in exchange for $46 million.

Furthermore the current Chief Financial Officer Sundance DiGiovanni is being replaced by his predecessor Greg Chisholm. As far as the money is concerned, its speculated that most of it will be going towards paying off MLG's debts with the remainder going towards the shareholders, some of which who have only received this news recently.

With MLG seemingly not existing anymore I wonder what will happen with the upcoming CS:GO US Major. Somehow I doubt its going to be good news but who knows, maybe Activision Blizzard aim to actually continue on with MLG's legacy rather than simply turn it in to a vessel for their own tournaments.

One thing is certain for me though, I'll miss MLG. I don't know if they've messed up horribly the past year or if they just made poor choices but I'll always remember them for their amazing Starcraft 2 and Dota 2 tournaments that first got me to even watch esports matches.

As for what happens now, I doubt anyone outside of those involved really knows. We'll have to wait for Activision Blizzard to make their move to finally see what will be the future, or the end, of MLG.